In prepping we often prepare for major catastrophes like regional storms or earthquakes. But are you really prepared to lose your job or survive a financial crisis? In March of 2017, a claim was made that nearly ½ of Americans couldn’t write a check for $500. With the financial collapse and ensuing food shortages happening right now in Venezuela, it should make us in the prepper community think long and hard about our own finances. In this article, I’ll discuss the 7 laws you should follow to weather events like an economic collapse or an even more likely scenario of losing your job.

Budget prepping and just plain old budgeting go hand-in-hand. So let’s jump right in and discuss what I would consider 7 financial laws you’ll want to observe as a prepper.

Prepping has costs associated with it, gear and skills to acquire requiring you to budget and be a good steward of your finances. I’ve known preppers that have allowed fear to drive them to credit card debt only to regret it later when nothing happened. By having a level-headed approach and a control over your finances, you can much more intelligently navigate yourself financially in prepping. By setting yourself up for financial freedom in the future, you give yourself the ability to be in a better position financially if a catastrophe does strike. As we asked at the beginning of the article, how many preppers are prepared financially for common things like losing their job?

In this article, I’ll share my personal experience with finances and how it has impacted how I prep. I learned a lot by following the steps outlined in Dave Ramsey’s book, Financial Peace. I implemented the steps he outlined and it has put myself and my family on a path to financial security. Should there be an economical downturn in the economy, had a major unexpected expense or I lost my business, we would make it.

So here are the 7 immutable prepper financial laws that I personally live by and I hope to be of value to you.

1. Create a budget

A budget allows you to take control of your finances and gives you a full understanding of where every dollar is going. In prepping there are expenses in acquiring gear and other resources and for those that have a tight budget, making sure you can squeeze out every dollar from your paycheck is important. Without a budget, you won’t be able to effectively do this. The first step to creating a budget is very straight forward. The goal is to create a simple, zero-based budgeting approach.

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